Job Posting Essentials
How to Motivate your Sales Team without Relying on just Money
A sale is a very important component of your business. Good sales are an indicator that your business is performing well, while poor sales ring an alarm bell. Keeping your sales team motivated is hence worth your time and effort. However, it is important to understand what motivates your sales team. And no, it’s certainly not just about the money. In fact, being too motivated by money can be a problem as this may lead to poor team spirit and putting oneself before the team. Also, in situations where money is the only motivator, there’s nothing to prevent the competition from using the same motivator to attract your best sales people along with your customers!
To encourage your sales team, you need a right mix of awards, recognition and peer pressure. A good motivation program for your sales team is one that not only excites the managers but also appeals to the average and below average salespeople. You need to begin by understanding what will offer that excitement to each of your salesperson. Is it about taking care of his/her family's health? Is it about being recognized in front of family and peers? Is it to beat a previous sales record? The secret is to identify what motivates them by getting to know about their interests, things they value in life or recreational activities.
Here are few ways in which you can motivate your sales team without relying on just money:
- Knowing that the company is benefiting from their work can be a big morale booster. Never fail to let your best sales people know that you support them and value their efforts and achievements. This way you also cultivate their loyalty for your Company.
- Invest to build their sales and technical skills by encouraging them to attend tradeshows, seminars or through other professional courses. Regular training sessions will generate goodwill and show your Company's willingness to invest time and money behind their success.
- Feed them with useful information regularly and keeping up-to-date with the product and industry can add an edge to their performance. Hold regular trainings to share product enhancements, analyse competition or to share sales tips.
- Offer them competitive benefits that includes a retirement plan, health insurance, sick time or a generous vacation.
- Keep your doors open to your team's grievances, to share their concerns or to provide constructive feedback.
- Always set achievable goals because unrealistic goals can seriously impact your sales team's motivation and their confidence in their skills.
- Share the sales quotas with a defined plan to help your sales team achieve their sales goals. Schedule one-on-one meetings with each salesperson to discuss the sales strategy individually and the support they can expect from the Company to achieve their targets.
- Celebrate their success. Never fail to recognize good work and reward your sales people when they achieve their sales quota. Showcasing their success or appreciating them in front of their peers can be a big motivation to them.
- Don't be too hard when sales figures are not achieved as this may further bring down their morale.